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in half, we still have trillion dollars deficits, a we will be have a trillion-dollar deficit each of the four years if you are reelected we will get to a $20 trillion debt. >> rose: it will be seen if romney can keep up the momentum. we begin this evening with analysis of chris matthews of msnbc, welcome. >> thank you, charlie. >> rose: as you watched the debate last night, what was your reaction to what you were seeing, b, why do you think it was that way, and, c, where are we going from here? >> well, i think governor romney knew it would be a wide open format and he came in to take charge. he was a commanding presence and i feel for the president because i don't think anyone has ever had to go up against a person who just sort of took the stage as if it didn't need anyone on the stage, including the monitor and once that began, i don't know whether he could change that environment what i was frustrated is failure to use the synapse to pop out and sitting here talking you and ji jim lehr about the pbs funding which is okay and cute and fun to talk about, how about the auto industry
in half, we still have trillion dollars deficits, a we will be have a trillion-dollar deficit each of the four years if you are reelected we will get to a $20 trillion debt. >> rose: it will be seen if romney can keep up the momentum. we begin this evening with analysis of chris matthews of msnbc, welcome. >> thank you, charlie. >> rose: as you watched the debate last night, what was your reaction to what you were seeing, b, why do you think it was that way, and, c, where are...
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no taxes to deal with the deficit. is that the right thing? >> keep in mind, he made it very clear that unlike this president, who i have to like as a person. i know him well. unlike president obama, he wants to work with congress. he knows he's not going to get anything done if he doesn't work with congress. >> but he drew a line there. is that a fuzzy line? >> i'm with it on the line. one thing that has to be made very clear is the wealthy will be paying just as much as they're paying now. >> but they shouldn't pay more. >> i thought one of the best lines is that basically we're tired of trickle down government. and he turned the tables on the president. we have the president who believes it will government is the last answer to everything. do you think that is going to be a political liability in the state of florida? >> well, keep in mind, he brought up pretty forcefully that the president cut medicare. he also said that look, we are going to keep medicare exactly as it is for those 55 years or older. but we have to do something to help th
no taxes to deal with the deficit. is that the right thing? >> keep in mind, he made it very clear that unlike this president, who i have to like as a person. i know him well. unlike president obama, he wants to work with congress. he knows he's not going to get anything done if he doesn't work with congress. >> but he drew a line there. is that a fuzzy line? >> i'm with it on the line. one thing that has to be made very clear is the wealthy will be paying just as much as...
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we need to use the savings from ending the wars in iraq and afghanistan to help pay down our deficit and put people back to work doing some nation building right here at home. that's the agenda we need. that's how you strengthen the middle class. that's how you keep moving forward. that is the choice in this election and that is why i'm running for a second term. that's what we need. [ cheers and applause ] now, my opponent has been trying to do a two-step and reposition and got an extreme makeover, but the bottom line is his underlying philosophy is the top down economics that we've seen before. he think that is if we just spend another $5 trillion on tax cuts, that, yes, skew towards the wealthiest, if we get rid of more regulations on wall street, then our problems will be involved. jobs and prosperity will rain down from the sky, the deficits will magically disappear, we will live happily ever after. even though he's been proposing this plan for months now, he's had a little trouble explaining just how it would work without blowing a hole in the deficit or making middle class fam
we need to use the savings from ending the wars in iraq and afghanistan to help pay down our deficit and put people back to work doing some nation building right here at home. that's the agenda we need. that's how you strengthen the middle class. that's how you keep moving forward. that is the choice in this election and that is why i'm running for a second term. that's what we need. [ cheers and applause ] now, my opponent has been trying to do a two-step and reposition and got an extreme...
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the federal subsidy for pbs in 2012 doesn't make up a huge part of this deficit. for example, 2012, the federal subsidy for pbs was $444 million. if you compare that to romney's plan for the federal budget, you'll see how miniscule it is. pbs subsidy, $444 million. but if you look at the tax breaks to oil and gas companies that romney defended last night, those add up to $4 billion this year alone. and take a look at mitt romney's plan for the defense budget. he wants to increase spending by $2 trillion over the next ten years. so, i mean, big bird is a big diversion to what he's really talking about in terms of the deficit. >> well, i think those of us out here crave specifics from governor romney. and when he's talked about this in the past, he's often thrown big bird under the bus. i don't know what would happen if he threw big bird under the bass. maybe the bus would go off the road. but never the let's, he has this little set piece he does. do you want to know what i'll cut? i'll cut pbs and big bird, the national endowment of humanities and the amtrak subsid
the federal subsidy for pbs in 2012 doesn't make up a huge part of this deficit. for example, 2012, the federal subsidy for pbs was $444 million. if you compare that to romney's plan for the federal budget, you'll see how miniscule it is. pbs subsidy, $444 million. but if you look at the tax breaks to oil and gas companies that romney defended last night, those add up to $4 billion this year alone. and take a look at mitt romney's plan for the defense budget. he wants to increase spending by $2...
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mitt romney, doesn't have a deficit reduction plan. he wants to spend $2 trillion more in defense, $5 trillion more in a tax cut won't tell us how you pay for, before you even start talking about deficit reduction. it's a joke to think mitt romney will actually take action to redaus the deficit. >> taxes, this week he did come out with this proposal of eliminating $17,000 in deductions. >> right. >> your response to that? >> well, you know, he left out a number of different details of that proposal but i would also say that limiting deductions to $17,000 for middle-class families still results in a tax increase. even in just the health premium deduction, for families last year, were about $15,000. there you go. what happens to the mortgage deduction, charitable deduction, child deduction. he's raising taxes on middle class families. >> if this comes up and mitt romney starts to do that math that paul ryan wouldn't do, i'm sure this will be a topic of discussion. >> how worried are you about the jobs report on friday? >> we face this ev
mitt romney, doesn't have a deficit reduction plan. he wants to spend $2 trillion more in defense, $5 trillion more in a tax cut won't tell us how you pay for, before you even start talking about deficit reduction. it's a joke to think mitt romney will actually take action to redaus the deficit. >> taxes, this week he did come out with this proposal of eliminating $17,000 in deductions. >> right. >> your response to that? >> well, you know, he left out a number of...
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we have seen a trade deficit explode. take auto parts. ten years ago, the trade deficit was $1 billion with china on auto parts. today it's $10 billion. that's why the president at the urging of a number of us, they have taken china to the world trade organization to show china is cheating and to ask for tariffs to protect american companies and to protect american workers. and we're seeing a pattern of the government finally on the side of workers, finally on the side of american manufacturing, standing up for american workers against china. we have a new steel mill. we're seeing jobs actually come to this country or stay in this country because we're standing up and enforcing trade rules. >> romney and the republicans keep talking about another tax cut for the job creators. don't we just see them increasing their profits by outsourcing this way? i mean, the model that romney wants to lay on the country, how could it be good for workers in ohio? >> well, it's not. we tried these tax cuts for the rich. hoping it trickles down to the middl
we have seen a trade deficit explode. take auto parts. ten years ago, the trade deficit was $1 billion with china on auto parts. today it's $10 billion. that's why the president at the urging of a number of us, they have taken china to the world trade organization to show china is cheating and to ask for tariffs to protect american companies and to protect american workers. and we're seeing a pattern of the government finally on the side of workers, finally on the side of american...
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you know, we've got investments to make, a deficit to close. so what the vice president was saying is that the bush tax -- we want to continue middle class tax cuts. the republicans want to hold them hostage so we continue tax cuts for the wealthy. that is a fundamental difference. by the way with today's economic news we should continue to make progress. one thing we can do right away is pass a middle class tax cut so that, you know, 98% of the american people will have the confidence that their taxes won't go up next year. very important for consumer confidence. very important for our economy. and, you know, governor romney ought to tell his running mate paul ryan to call up the house republican leadership of what he is a member and get this done. so that we can give security and a guarantee to the middle class of this country and our economy that taxes aren't going to go up next year. >> do you believe the fundamentals of this campaign have changed from wednesday morning to today? >> i don't think so, chuck. obviously though we'll be able to
you know, we've got investments to make, a deficit to close. so what the vice president was saying is that the bush tax -- we want to continue middle class tax cuts. the republicans want to hold them hostage so we continue tax cuts for the wealthy. that is a fundamental difference. by the way with today's economic news we should continue to make progress. one thing we can do right away is pass a middle class tax cut so that, you know, 98% of the american people will have the confidence that...
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if you're a republican and deficits with minorities and women, you need those white seniors to show up in large numbers for you. maybe they won't really understand that they fit into this category. there is a fair number of people who think this other people who are drawing on government subsidy in one way or another. but that vision part of this debate is going to be interesting because mitt romney has set himself up for some pretty difficult territory. are people on social security the kinds of voters that you are talking about, mr. romney, in this debate tonight, when you say government is paying too big a role in people's lives. that's a tricky one for him to walk out of. >> are the elderly moochers? he's going to have to answer that question. >> service members on disability? i mean same thing. >> coming on the heels of the romney campaign trying to use joe biden's biden-esque turn of phrase the middle class has been buried and you know, biden has walked that back, you know, is it an indictment of the president? look if you're going to fight for the ground on the middle class i do
if you're a republican and deficits with minorities and women, you need those white seniors to show up in large numbers for you. maybe they won't really understand that they fit into this category. there is a fair number of people who think this other people who are drawing on government subsidy in one way or another. but that vision part of this debate is going to be interesting because mitt romney has set himself up for some pretty difficult territory. are people on social security the kinds...
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he proposes tax deductions in real-estate to reduce the deficits. what this means is, over time, $45 billion over the next decade. >> we are running short on time. the dough and paul debate. >> this is a deadly earnest. how they can justify raising taxes on the middle-class, who have been buried the last four years. how, in lord's name, can they justify raising their taxes? >> vice-president biden just today said that the middle-class over the last of we were years has been ". ." we agree. that means we need to stop digging by electing mitt romney the next president of the united states. >> what did you think, jonathan? >> you talk to a lot of folks in the romney campaign and they say joe biden is the gift that keeps on giving. you saw him pause when he said four years. i think he meant to say the last 10 years, and it came out wrong. this is fodder for the obama campaign. it will not change, i do not think, in a huge way, the course of events, but there is no question the obama campaign folks, every time biden is out there, they are nervous about w
he proposes tax deductions in real-estate to reduce the deficits. what this means is, over time, $45 billion over the next decade. >> we are running short on time. the dough and paul debate. >> this is a deadly earnest. how they can justify raising taxes on the middle-class, who have been buried the last four years. how, in lord's name, can they justify raising their taxes? >> vice-president biden just today said that the middle-class over the last of we were years has been...
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deficit now. we are seeing some tight thing in the race the totality of the entire poll, whether it is that 47% comment or what people have actually seen and heard about mitt romney the past two weeks was a pretty negative outlook. >> as i understand it and you've noted i believe in first read today this new romney ad, i want to play tax direct answer perhaps to those people in the public concerned about that comment. let me play it. >> more americans live in poverty than when president obama took office. we should measure our compassion by how many of our fellow americans are able to get good-paying jobs, not by how many are on welfare. >> so, how does that answer the statement he made at that fund-raiser? >> tamron, it is an attempt. in fact, his second tv ad we have seen, an earlier one was a minute tv ad this is a short 3er 0-second one, trying to do everything they can to try to repair the damage. you have played it obama ad flag battleground states across the country where they are hitting a
deficit now. we are seeing some tight thing in the race the totality of the entire poll, whether it is that 47% comment or what people have actually seen and heard about mitt romney the past two weeks was a pretty negative outlook. >> as i understand it and you've noted i believe in first read today this new romney ad, i want to play tax direct answer perhaps to those people in the public concerned about that comment. let me play it. >> more americans live in poverty than when...
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you said you would cut the deficit in half. we still have trillion dollar deficits. >> five weeks before the election, he says his big bold idea is, never mind. >> if there is any good news for the president after the debate is that the unemployment rate dropped below 8% from 8.1%, to 7.8%, the lowest since he took office. jonathan martin was on the ground for the debate in denver. you say romney took the debate stage with the top republican verging on panic. did this turnaround for them? >> they are backing away from the edge. there is no question that this was a make or break moment for governor romney. if he had not shown up like he did in denver, you would have seen a really ugly scene here. a lot of folks in his party would have backed away from him. this puts him back in the game, it restores confidence among other people running for the house and senate this year who are now happy to be seen with him. it gives them a real boost when they desperately need it. he still has problems and a lot of swing states. this puts them
you said you would cut the deficit in half. we still have trillion dollar deficits. >> five weeks before the election, he says his big bold idea is, never mind. >> if there is any good news for the president after the debate is that the unemployment rate dropped below 8% from 8.1%, to 7.8%, the lowest since he took office. jonathan martin was on the ground for the debate in denver. you say romney took the debate stage with the top republican verging on panic. did this turnaround for...
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is surplus into a huge deficit. in n. paying deficit down you should score the fact we are coming out of iraq and afghanistan. the other thing that the president has proposed and that he he understands is we cannot cut our way to prosperity. we need a balanced approach and growing our economy by doing things leak the senator opposed like restructuring the auto industry in order to put people back to work and make manufacturing jobs grow is one of the actions we need to take in order to do that. the fact of the matter is the president because he has the responsibility of office has been specific about what he proposes and mitt romney tells us to trust him. his plan is hiding behind door number three with carroll merrill and his undisclosed tax returns. >> chris: i'm glad you practiced the line. >> the lines are great. his budget tax increase on job creators. budget gimmicks brings us to $25 trillion in debt over ten years. this president has added more are debt than any other president -- >> not true. >> he said he w
is surplus into a huge deficit. in n. paying deficit down you should score the fact we are coming out of iraq and afghanistan. the other thing that the president has proposed and that he he understands is we cannot cut our way to prosperity. we need a balanced approach and growing our economy by doing things leak the senator opposed like restructuring the auto industry in order to put people back to work and make manufacturing jobs grow is one of the actions we need to take in order to do that....
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enough deductions and loopholes that only affect high income individuals to avoid either raising the deficit or burdening the middle class. it's math, it's arithmetic. >> get the rates down, lower deductions and exemptions to create more jobs because there's nothing better for getting us to a balanced budget to have more people working, earning more money and paying taxes and that's by far the most effective and efficient way to get this budget balanced. >> paul: welcome to the journal editorial report. i'm paul gigot. a big night in denver on wednesday, as president barack obama, and mitt romney met for the first presidential debate and the candidates sparred as you heard over taxes and the deficit as well as health care. wall street reform and the role of government. with mitt romney taking some sharp shots at the president's record these past four years. >> we're seeing right now is, in my view, a trickle down government approach which has government thinking it can do a better job than free people pursuing their dreams and that's not working the. proof of that is 23 million people out of
enough deductions and loopholes that only affect high income individuals to avoid either raising the deficit or burdening the middle class. it's math, it's arithmetic. >> get the rates down, lower deductions and exemptions to create more jobs because there's nothing better for getting us to a balanced budget to have more people working, earning more money and paying taxes and that's by far the most effective and efficient way to get this budget balanced. >> paul: welcome to the...
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. >> there will be no tax cut that adds to the deficit. i'll underline that, no tax cut that adds to the deficit. >> really? okay. what kind of mileage does it get? >> number one, pre-existing conditions are covered under my plan. >> huh? okay. do the brakes work? >> i'm sorry, jim, i'm going to stop this subsidy to pbs. i'm going to stop other things. i like pbs. i love big bird. >> let's not. let's let him respond. >> i get the last word. let me make this comment. >> nope. come on, mr. president, give us a peek under the hood. >> five week before the election he's saying that his big, bold idea is never mind. is the reason that governor romney is keeping all these plans to replace secret because they're too good? is it because that somehow middle class a families are going to benefit too much? ♪ i guess you're just what i needed ♪ >>> we begin with the president criticized as being less than effective last night by hyperventilating pundits across the board, but now getting his own chance to put a spin on the first presidential debate
. >> there will be no tax cut that adds to the deficit. i'll underline that, no tax cut that adds to the deficit. >> really? okay. what kind of mileage does it get? >> number one, pre-existing conditions are covered under my plan. >> huh? okay. do the brakes work? >> i'm sorry, jim, i'm going to stop this subsidy to pbs. i'm going to stop other things. i like pbs. i love big bird. >> let's not. let's let him respond. >> i get the last word. let me make...
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it's going to be deficit neutral. you say you're going to close loopholes, deal with deductions, so let's talk about those deductions. you know, home mortgage deduction, charitable giving deduction, health care deduction. are you willing to tell the middle class -- >> tax deduction. >> are you willing to tell the middle class some of these are off the table? if you are, how do you pay for it? >> he's not going to. he has bucket, 17 grand. is that not good enough for you? >> that's the problem. if he starts getting specific like that, what the right wants to hear is not what 80% of the country wants to hear. that's the fundamental problem he has. >> the bar is pretty low for mr. romney. how does he get through the 90 minutes without any further problems? very quickly. >> i've been a big fan of the fact that mitt romney is the gift that keeps on giving. listen, if mitt romney doesn't produce a verbal or a physical gaffe tonight, then by and large, i think the republicans will probably say that he won. but, i think that
it's going to be deficit neutral. you say you're going to close loopholes, deal with deductions, so let's talk about those deductions. you know, home mortgage deduction, charitable giving deduction, health care deduction. are you willing to tell the middle class -- >> tax deduction. >> are you willing to tell the middle class some of these are off the table? if you are, how do you pay for it? >> he's not going to. he has bucket, 17 grand. is that not good enough for you?...
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>> i want to get your reaction to the new finding that shows mitt romney leads on dealing with the deficit, the economy, while the president leads on a host of issues while looking out for the middle class. do you think joe biden's remarks about the middle class being buried will make the president's job harder tonight? >> the middle class has really suffered as a result of this economic downturn and frankly, president obama knows that. and he has been working to enact policies that will help the middle class. mitt romney's recent remarks about the 47%, he doesn't represent them. they're not going to vote for him. those are the people who have been hurt by this economy and they're the people frankly that president obama and the democrats in congress have been trying to work to help as we begin to come out of this recession. certainly tax cuts for the top 1% of americans are not going to help middle class voters. >> one thing i want to get your take on, looking specifically at your own state, colorado, our latest poll showing president obama with a five-point lead over mitt romney. 5 50-45%
>> i want to get your reaction to the new finding that shows mitt romney leads on dealing with the deficit, the economy, while the president leads on a host of issues while looking out for the middle class. do you think joe biden's remarks about the middle class being buried will make the president's job harder tonight? >> the middle class has really suffered as a result of this economic downturn and frankly, president obama knows that. and he has been working to enact policies that...
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we went from deficit to surplus. and businesses did very well. >> you know what i hear and i hear it in the president's speeches, he's still working the interest groups rather than selling a national plan. he keeps talking about more teachers. he doesn't necessarily push education he pushes more teachers and he'll refurbish the school buildings. grant it the aft like it maybe your people like it but it isn't a national plan for economic development and tonight they said what's your difference and that's all he could come up with is something about the teachers. where's the national macroeconomic plan to get us out of these doldrums. >> i think he talks about education in a much different way as well. and not just talk about. he's done it. he talked about the "race to the top" tonight. as a former urban school superintendent that's done more to reform schools across the country than anything else the federal government has ever done but there needs to be more than that as well. he's talked about manufacturing and tax
we went from deficit to surplus. and businesses did very well. >> you know what i hear and i hear it in the president's speeches, he's still working the interest groups rather than selling a national plan. he keeps talking about more teachers. he doesn't necessarily push education he pushes more teachers and he'll refurbish the school buildings. grant it the aft like it maybe your people like it but it isn't a national plan for economic development and tonight they said what's your...
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president, looking at this year's budget come at you are going to have a trillion dollar deficit. i have not done anything yet, he said. >> we cannot keep looking our children in the high knowing that we are going to give them a diminished future because we are spending their money today. it is a very simple idea. mitt romney and i are going to bring it to washington. we've got to stop spending money we do not have. we must cut spending, we must get this balanced budget. >> next thursday night, paul brian and joe biden will face off in their only critic paul brian and joe biden will face off in their only debate. you can watch and engage with c- span with our live debate preview starting at 7:00. your reactions at 10:30. a follow our live coverage on c- span, c-span radio, and online. >> i watched on c-span the various congressional hearings and deliberation on public policy and also information that is put out by the various think tanks in washington. i like to watch the main interviews on sundays at 8:00. he hosts different authors any has discussions -- and he has discussions.
president, looking at this year's budget come at you are going to have a trillion dollar deficit. i have not done anything yet, he said. >> we cannot keep looking our children in the high knowing that we are going to give them a diminished future because we are spending their money today. it is a very simple idea. mitt romney and i are going to bring it to washington. we've got to stop spending money we do not have. we must cut spending, we must get this balanced budget. >> next...